Fox News billionaire Rupert Murdoch’s newspaper slammed President Donald Trump’s economic strategy Monday night, warning the president that he “would be wise to put his tariff plans on the shelf.”
The Wall Street Journal‘s editorial board condemned Trump’s “willy-nilly” tariffs for rattling markets and said the president “didn’t help the mood” when he declined to rule out a recession in an Sunday interview with Fox News’ Maria Bartiromo.
Monday was the Nasdaq’s worst day since 2022, falling 4%, and the S&P 500 fell by almost 3%. The WSJ editorial board ripped Trump’s handling of the economy, calling his remark that there would be a “period of transition” an “uncharacteristic equivocation.”
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The editorial board also added that service businesses are being “whipsawed” by Trump’s 25% tariffs on Canada and Mexico, and 10% on China, and cited manufacturers who say their prices are rising due to uncertainty.
“The higher costs and uncertainty caused by his tariffs are hurting the economy now,” wrote WSJ, connecting tariff uncertainty to rising consumer anxiety. The editorial warned the president of “flashing signs” that the economy is slowing.
The Murdoch-owned New York Post also echoed the criticism in an editorial published shortly after, telling Trump that “traders really hate” his erratic tariff strategy.
The Trump-endorsing editorial board added that his long-term economic strategy remains unclear, and urged him to “explaining the long game on the economy.”
The Wall Street Journal has long been critical of Trump’s tariffs, writing last week that it was “puzzling” why the president remained steadfast in imposing tariffs that would “punish” the working-class voters whose real incomes he had promised to lift.
As the stock market plunged on Monday, Trump was busy on Truth Social, reposting dozens of articles that praised his tariffs, speeches, and other executive actions as president.
